Biden Admin Unveils Corporate Tax Hikes, to Fund Infrastructure Plan.<br />The plan seeks to raise <br />$2.5 trillion over the course of 15 years.<br />In order to achieve this, <br />sweeping changes to the corporate <br />tax code would be enacted.<br />and the corporate tax rate would be raised<br />from 21 percent to 28 percent.<br />Part of the changes would be made in <br />order to close loopholes in the tax code ...<br />... that have been exploited by <br />major American companies, often allowing <br />them to pay zero taxes in a given year.<br />Prior to the Trump administration, <br />the corporate tax rate was 35 percent.<br />Corporate reaction to the plan has been mixed, <br />with some business community members claiming <br />that it "threatens to subject the U.S. to <br />a major competitive disadvantage.".<br />The co-founder of Lyft, <br />John Zimmer, had <br />a different opinion <br />about the tax plan.<br />I think it’s important to make investments again in the country and the economy, John Zimmer, Lyft Co-Founder, <br />via 'The New York Times'
